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Tuesday, 07 April 20
SHIPPING MARKET ANALYSIS - ALLIED
 With the first quarter of 2020 now firmly written in the books, it is worth examining what we have witnessed so far in the tanker market. Undoubtedly it was a very interesting quarter with a significant freight boom taking place earlier in the year, tensions among oil producers creating volatile market conditions and the COVID-19 pandemic reshaping the global economic environment said Yiannis Vamvakas, Research Analyst of Allied Shipping in his latest weekly report.
Yiannis Vamvakas further noted that, the truth is that the recent developments as part of the pandemic have affected the whole global economy, diminishing demand for several oil products which in turn has started to show a slight trend in crude oil itself. Looking just at the BDTI index, we can see on absolute terms that the quarterly loss was 12.7%. This is a disappointing figure, Yiannis Vamvakas said, but not devastating especially when it is compared to the dry bulk market, proving that the oil market was able to resist the effects of the global economic downhill that is being witnessed. Adding to this, we noted that both the VLCC and Suezmax TCA have gained 164.4% and 37.7% respectively on a quarterly basis. It seems as though that had it not been for the catastrophic February, things may have been even better for the crude oil tanker segments.
The price war between oil producers has pushed Brent and WTI to record lows, helping demand remain healthy even under the current circumstances, while several tankers have been “taken out” of the global fleet in order to be used as storage. In contrary to all of this, we should note that the Aframax TCA moved in the opposite direction this past quarter, losing about 30.8%. Given that oil price is not expected to move significantly upwards in the coming months (obviously not considering any major shift in production plans of the main oil producers), we are anticipating interest from the charterers’ side to remain intense during the start of the 2nd quarter. Adding to this the glimpse of optimism reflected in the rebound noted in European stock markets on the back of the stabilization seen in the COVID-19 spread, and you could have the basis for a gradual improvement to take place.
Research Analyst of Allied Shipping further noted that, on the supply side, we have seen the global tanker fleet increase by 53 units during 1Q20, with 23 of them being crude oil carriers. This quarterly rise is around 1%, an encouraging figure when compared to the respective fleet expansion of 2.63% noted in 1Q19. On the supply side things remain positive for now, with interest for new-building orders having eased back as of late. However, it is likely that this trend will shift in the near future, as ship recycling activity will now be minimal due to the COVID-19 lockdown measures taken in the Indian Sub-Continent, while at the same time this pause noted in newbuilding activity is expected to be temporary. On the positive side though the orderbook to vintage fleet ratio (a figure that depicts the potential additions compared to potential demolition candidates) holds at fairly good levels. The ratio now holds for the VLCC segment at a mere 13.33%, for the Suezmax 24.00% and for the Aframax 7.89%, the lowest points noted the last 5 years.
Taking into consideration the resilience that crude oil tanker market has shown so far, we anticipate the market to remain on a positive track in the coming quarter, even if there are some signs of volatility emerging. The low-price of oil, the potential that the worst is now behind us and the healthy status of the supply side, all leave space for optimism. However, as we are deliberating on a market that is largely exposed to geo-political events and highly linked to the global economy, it is essential to remember that there could always be another “blank swan” hiding around next turn.
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Tuesday, 09 June 20
BUNKER SUPPLY CONTRACTS - KEY CONSIDERATIONS FOR THE BUYER - GARD
KNOWLEDGE TO ELEVATE
Regardless of whether a buyer purchases fuel directly from physical suppliers or via brokers or traders and whether sale ...
Tuesday, 09 June 20
INDIA: COAL IMPORT DROPS BY 20% TO NEARLY 19 MILLION TONNES IN MAY, SAYS REPORT - HINDUSTAN TIMES
The country’s coal import dropped by 20 per cent to 18.93 million tonnes (MT) last month, industry data showed.
The government ...
Monday, 08 June 20
WOOD MACKENZIE: THE INDISPENSABLE OPEC+
Rumours of “the death of OPEC” have been circulating for almost as long as the organisation has existed. Just three years after the car ...
Monday, 08 June 20
CHINA'S COAL IMPORTS FALL NEARLY 20% IN MAY EVEN AS DEMAND RISES - REUTERS
China’s coal imports in May fell nearly 20% compared with a year earlier even as demand recovered at power plants and industrial users, custo ...
Monday, 08 June 20
JUNE 2020 INDONESIAN COAL PRICE REFERENCE HIT US$ 52.98 A TON, ITS LOWEST LEVEL SINCE AT LEAST AUGUST 2016
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
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- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Eastern Coal Council - USA
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